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Learner Reviews & Feedback for Narrative Economics by Yale University

4.8
stars
585 ratings

About the Course

Dear Potential Learner, Please take some time to read through this note before deciding to enroll. This course, Narrative Economics, is relatively short and proposes a simple concept: we need to incorporate the contagion of narratives into our economic theory. You can think of narratives as stories that shape public beliefs, which in turn influence our decision making. Understanding how people arrived at certain decisions in the past can aid our understanding of the economy today and improve our forecasts of the future. Popular thinking heavily influences our answers to questions such as how much to invest, how much to spend or save, whether to go to college or take a certain job, and many more. Narrative economics is the study of the viral spread of popular narratives that affect economic behavior. I believe incorporating these ideas into our research must be done both to improve our ability to anticipate and prepare for economic events and help us structure economic institutions and policy. Until we better incorporate it into our methods of analysis and forecasting, we remain blind to a very real, very palpable, very important mechanism for economic change. Even in the dawning age of the Internet and artificial intelligence, so long as people remain ultimately in control, human narratives will matter. Maybe they will especially matter as the new technology exploits human weaknesses and creates new venues for narrative contagion. If we do not understand the epidemics of popular narratives, we cannot fully understand changes in the economy and in economic behavior. The course is broken into 4 modules: Part I introduces basic concepts and demonstrates how popular stories change over time to affect economic outcomes, including recessions, depressions and inequality as well as effective inspiration and growth.. These stories can be observed from diverse sources such as politics, the media, or even popular songs. Part II seeks to answer why some stories go viral, while others are quickly forgotten, by defining our narrative theory more firmly. This module enumerates and explores a list of seven propositions to help discipline any analysis of economic narratives. Part III examines nine perennial narratives that have proved their ability to influence important economic decisions. They include narratives regarding artificial intelligence, stock market bubbles, and job insecurity. Part IV looks to the future and highlights the opportunities for consilience in Narrative Economics. We share some thoughts about where narratives are taking us at this point in history and what kind of future research could improve our understanding of them. This course offers only the beginnings of a new idea and a few suggestions for how it could be used by economists and financial professionals. The tone is not prescriptive or authoritative, as perhaps my Coursera course, Financial Markets, is in places. It represents the beginning of the journey (epidemic). This course is my way of floating the “germ” of this idea out into the broader community of not only professionals but of anyone who is interested in discovering how and why things become “important” to us as a society. I hope some of you will become infected by this idea, mutate it, spread it, and advance it. The beginning of the journey is the easy part. The challenge will come in taking these concepts to the next level. We have the tools to incorporate narratives into our research and the moral obligation to act; only the work remains. - Robert J. Shiller...

Top reviews

AV

Jun 6, 2023

A very insightful and approachable course about the effects of human biases over the economic landscape and how social trends tend to leave a permanent mark on history and exact sciences like finance.

LA

Mar 10, 2024

I really enjoyed this course, it opened my eyes so much and I might keep going even though I only took this course out of fun, I was very interested in this topic. lucky me it Was interesting! Thanks

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26 - 50 of 171 Reviews for Narrative Economics

By Marie B

Aug 7, 2024

An interesting course allowing a dive into legendary Robert Shiller's research on what drives this world, promoting an interdisciplinary approach in research and finally even encouraging students to use the acquired knowledge in creating one's own narrative. Even English not being my native language, attending this course has not been too difficult to follow. Maybe use an online dictionary to look up the one or other expression used.

By Ruth M

May 23, 2023

I found this course fascinating! The perspective of narratives affecting the economy is something that I have seen, particularly leading up to the Great Recession, but I couldn't really put a name to it.

I enjoyed Dr. Shiller's examples and how he brought in a wide variety of source material. My reading list has been extensively added to.

I recommend this course to those interested in how human beliefs produce causations.

By Ann B

Aug 8, 2024

This is such an engaging course. Professor Shiller makes otherwise very complex topics seem so easy to understand, and it is fascinating to see how he draws examples of his propositions from such a wide range of real-life sources, from Ancient Greece to modern pop songs. This is a superb course, and I recommend it 100% - it will have you looking forward to each new video and wondering what you will learn each time.

By Ann B

Jun 18, 2023

Excellent perspective on the role of narrative overall and the criteria that help explain why some narratives go viral and influence economic activity. Very compelling application of SIR model to shed light on the mechanics of narrative. Professor Shiller's development and articulation of narrative economics is also a perfect example of the best that comes from cross-discipline thinking which he rightly espouses.

By Juan M V N

Jun 3, 2023

It is important to emphasize the efforts of Coursera and YALE University, since it makes available to people who really want to give value to learning; these tools that brings us closer and closer to our goals, since many times the limitation is based simply on the monetary resource. Many thanks to Professor Shiller, for sharing part of his knowledge to the new generations.

Kind regards from Colombia.

DR. JUAN VÉLEZ

By Hải P L

Jul 22, 2024

A nice short course about narratives and their impact on not only the economy but also our daily lives. In the course, I can see many repeated narratives, and the way they evolve and change through time. Now, I am more aware of those, doing fact-checking and staying open to new ideas. Thanks, Professor Shiller, for another great contribution.

By Michael B

Feb 24, 2024

Thanks Robert Shiller, for another fantastic course. This content brings in a great perspective on the various faculties of thought, that impact Economics, Finance, and many other industries. The lectures are filled with fantastic anecdotes, that keep it real, and interesting subject matter along the learning journey. Highly recommended !

By Geovana D

May 20, 2024

This was a really interesting topic of study. Professor Schiller explained the field ofNarrative Economics in an easy-to-absorb way. He brought up past stories about how narratives can be epidemic and affect our behavior. I believe the most useful thing I learned was paying attention to how stories are told and how topics go viral.

By Julio C G M

Sep 1, 2024

Un excelente curso, dinámico y fluido, repleto de referencias y ejemplos prácticos sobre la aplicación de esta nueva aproximación. El profesor Schiller presenta el contenido de manera accesible y mantiene tu atención en todo momento. Es un curso altamente práctico, que te permite concluir con el dominio de una nueva herramienta.

By Aidao G

Apr 15, 2024

Best course in all of my undergraduate and graduate studies until now! But I am sure that the course on financial markets with professor Shiller will be at least equally good as said course. His lectures motivated me to pursue a graduate degree at Yale (preferably a double degree MBA/PhD)

By Дианова И В

Jun 16, 2023

Профессор Шиллер великолепно излагает материал: просто, понятно, объективно и в позитивной форме. Курс "Нарративная экономика" дал мне ответ на вопрос как формируются экономические истории. Профессор Шиллер вдохновил меня "написать" свою историю и прожить её с удовольствием.

By Pradip M

Oct 2, 2023

Prof Shiller has put together a course that encompasses everyday events including the way that changes peoples perceptions over time and through adversities. This course has immense purpose and vision to capture the imagination of people across all pursuations. Salute Sir.

By Lei M

Jul 20, 2024

It's really insightful toward how the narratives shape not only toward our life but also contributing to many social and economical impacts. This course enable us to open our eyes and adopt the way narratives could influence our decisions. I highly recommend it!

By Glühbrine

Jul 9, 2023

Sincerely thanks for Mr. doctor Shiler,you give me the opportunity and courage to search this wonderful land.

I promise that I would complete my own personal narrative of my youth dream in economics,with great passion and the spirit of never giving up.

By Judih W H

Apr 8, 2023

Fascinating approachable course enriched with examples from across disciplines from music to jokes about 10-year deliveries on cars in Russia back in Reagan's day. Narratives that infiltrate societal decisions. Recommended.

By M T

Apr 12, 2023

I really enjoyed this course. It's a surprising way of looking at economics. Some disciplines appear to be going in the opposite direction. For example psychology moving away from Freud and Jung towards neuroscience.

By Wolfgang R

Aug 12, 2024

Absolutely contagious content. Inhaled it in only 3 days as it was really catchy and very interesting explained with lots of good comparisons. Also rounded up with interesting quiz questions. Thank you for that course!

By César F

Mar 10, 2024

Nos invita a realizar un razonamiento critico sobre ideas que surgen en la historia las cuales si se les da tiempo y espacio, pueden llegar a impactar sobre la economía y en otros campos de la vida y la educación.

By Simarpreet K P

Jul 24, 2023

Very useful course. Provides many inter-disciplinary links and explanations for historical events and gives attention to the power and tendency of narratives and how they bleed into society's decision-making.

By Surendra K

Sep 24, 2023

It is a new domain and efforts are laudable. Prof Shiller himself mentions in one of his videos that sometime in future taxonomy of narrative economics may be in place, with the efforts of people like him.

By Sudipayan B

Jun 23, 2023

It was a so engaging and interesting course. I am very happy and satisfied not that now I have a new insight to things happening around me and influencing my behavior. Looking foreword to similar course.

By Taha V T

Jul 28, 2024

This course was absolutely worth the time and effort. Professor Shiller beautifully explains some new concepts and ideas about Narrative Economics. He does an amazing job at keeping the course exciting.

By Alex V

Jun 7, 2023

A very insightful and approachable course about the effects of human biases over the economic landscape and how social trends tend to leave a permanent mark on history and exact sciences like finance.

By Lujain A

Mar 11, 2024

I really enjoyed this course, it opened my eyes so much and I might keep going even though I only took this course out of fun, I was very interested in this topic. lucky me it Was interesting! Thanks

By Felix O

Aug 18, 2023

It's a real good course full of history lessons and its narrative expressions that have forged our current economy! The Professor explains everything very clearly and makes it a very fun experience!